Anyway, President Obama has managed to add a hefty sum to the national debt in his 8 years, just as his predecessor did but to an even greater extent. Bush added $5.849 trillion to the debt and Obama added another $7.917 trillion to the debt. Let me spell that out for you, just for effect....
That is a lot of clams.
According to the U.S. Debt Clock, as of right this second the total national debt (not the annual deficit which is what we always hear about) is at....
or about $61,351 per U.S. citizen/$166,760 per U.S. taxpayer. More than a third of that comes from the Obama years so if you are a tax-payer that is around $55,000 of new debt that you are responsible for somehow paying back after just 8 years. The clock went up over a million bucks just while I was typing this, if watching that number race ever upward for a few minutes doesn't make you ill, you aren't paying attention. Between Bush and Obama you can attribute some $13,766,000,000,000 of new debt to deficit spending in just 16 years. With Trump coming into office right about the same time the debt breaks the $20 trillion mark and apparently not super concerned about deficit spending either, I shudder to think what the debt will be by 2020.
|See, the debt used to be down there but now it is up here|
What a change a few years makes. As Breitbart points out, in July of 2008 candidate Obama had this to say about President Bush and deficit spending:
The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents — 43 added $4 trillion by his lonesome. So we now have over $9 trillion of debt that we are going to have to pay back — $30,000 for every man, woman and child. That’s irresponsible. It’s unpatriotic.
He was right at the time but since then he has added more debt than any other U.S. President in history. That $30,000 we have to pay back for every man, woman and child is now over $60,000. Someone ought to point this out to President Obama but on the other hand I am not sure he understands the concepts of irony and hypocrisy.
If it is irresponsible and unpatriotic to add $4 trillion in debt, what is it when you add over $7 trillion more in debt?